NEW YORK--(BUSINESS WIRE)--HealthReveal, a healthcare technology company that anticipates and mitigates adverse medical events for individuals with chronic disease, announced today a strategic investment by Northwell Ventures contributing to the Series A funding of $11.3 million. The Series A round was led by GE Ventures and joined by Greycroft Partners and Flare Capital Partners.
HealthReveal partners with leading providers, payers and employers to guide patients to better health and preempt life-threatening occurrences. The company has developed a next-generation, cloud-based, decision support solution that analyzes the health of at-risk patients in real time. By using the power of evidence-based medicine and providing continual monitoring as a foundation for machine learning, health risks are detected and proactively addressed to avoid costly utilization and permanent adverse health outcomes.
“We are delighted to invest in HealthReveal’s technology, which we expect will enhance their customers’ ability to combat chronic disease,” said Thomas Thornton, senior vice president and executive director of Northwell Ventures, which evaluates, develops and finances novel companies that advance Northwell’s growth and generate attractive returns. “The company brings a unique focus in deploying evidence-based medicine to assist patients and their doctors to make better and earlier decisions to optimize health.”
“With Northwell as a strategic partner, we have an opportunity to ensure that incontrovertible medical knowledge is consistently and broadly applied by clinicians in providing evidence-based care,” said Dr. Lonny Reisman, the Company’s CEO and founder. “By looking at each patient personally and comprehensively we can make a meaningful improvement in clinical outcomes, medical costs and value.”
HealthReveal is a healthcare technology company whose mission is to preempt the avoidable consequences of chronic disease. A fundamental component of fulfilling this mission is ensuring patients receive guideline-directed medical therapy. Patients suffering from chronic disease receive guideline-directed medical therapy only about 50% of the time1. The consequences are tragic at the individual patient level and also costly, as approximately 86% of healthcare costs per year are attributable to chronic disease2. HealthReveal partners with providers, payers and employers to continually monitor their at-risk patients and apply machine learning techniques to patient information to help avoid adverse events like strokes, heart attacks, heart failure, end stage renal disease and advanced cancer.
About Northwell Ventures
Northwell Ventures (NV), the corporate venture arm of Northwell Health, launched a fund to invest in and actively manage companies that represent a current or future strategic interest. The NV fund seeks to identify and invest in novel technologies and business models that have the prospect to advance Northwell’s growth and generate attractive returns. The group, as a whole, works to accelerate Northwell’s broader strategic healthcare focus by utilizing Northwell as a laboratory to rapidly validate technologies, new business models, and conduct research to build profitable companies and increase the quality of care for our patients. For more information, please visit http://northwell.edu/ventures.
About Northwell Health
Northwell Health is New York State’s largest health care provider and private employer, with 21 hospitals and over 550 outpatient facilities. We care for more than two million people annually in the metro New York area and beyond, thanks to philanthropic support from our communities. Our 61,000 employees – 15,000+ nurses and nearly 3,400 physicians, including nearly 2,700 members of Northwell Health Physician Partners -- are working to change health care for the better. We’re making breakthroughs in medicine at the Feinstein Institute. We're training the next generation of medical professionals at the visionary Hofstra Northwell School of Medicine and the School of Graduate Nursing and Physician Assistant Studies. And we offer health insurance through CareConnect. For information on our more than 100 medical specialties, visit Northwell.edu.
1McGlynn, EA, Asch, SM, Adams, J, Keesey, J, Hicks, J, DeCristofaro, A, Kerr, EA. The Quality of Health Care Delivered
to Adults in the United States, New England Journal of Medicine. Vol. 348, No.26, June 26, 2003
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